My understanding is that Binance can step in as a potential savior because Binance is safe themselves and the company doesn't fear a liquidity crisis themselves. But, their whole premise of consumer confidence is based off of SAFU[1] which seems to hold quite a bit of their own BNB coin[2].
Maybe I'm missing something but isn't Binance just insuring funds... with their own coins? (ie. what Alameda basically did with FTT tokens)
1. Couldn't Binance be subject to the same rundown FTX just experienced? / How could Binance realistically rescue FTX at all?
Maybe I'm missing something but isn't Binance just insuring funds... with their own coins? (ie. what Alameda basically did with FTT tokens)
1. Couldn't Binance be subject to the same rundown FTX just experienced? / How could Binance realistically rescue FTX at all?
2. Was this offer ever serious?
[1] https://academy.binance.com/en/glossary/secure-asset-fund-fo...
[2] https://bscscan.com/address/0x4B16c5dE96EB2117bBE5fd171E4d20...